Editing Patni Computer Systems

{{Short description|IT company based in India}}
{{Use dmy dates|date=August 2021}}
{{Infobox company|
| type = [[Public company|Public]]
| traded_as = {{BSE|532517}} {{NYSE|PTI}}
| logo = Patni Logo.svg
| logo_size = 200px
| foundation = 10 February 1978<ref>{{cite web|url=https://www.deccanherald.com/india/independence-day-india-at-75-how-india-became-an-it-giant-1135466.html |title=How India became an IT giant|publisher=deccanherald.com |date=2024-10-15 |access-date=2022-08-15}}</ref>
| founder = [[Narendra Patni]]
| location = [[Electronic City]], [[Bangalore]], India
| fate = Acquired by [[IGATE]]
| defunct = 2012
| industry = IT services
| services = IT and [[Computer services|outsourcing]] services
| products = 
| revenue = {{INRConvert|2164|c}} (2012)
| operating_income = 
| net_income = {{INRConvert|386|c}} (2012)
| assets = 
| num_employees = 18,273 (2011)<ref>{{cite web|url=http://www.livemint.com/2009/05/20221005/Patni-in-transition-seeks-to.html |title=Patni in transition, seeks to be among Top 5 - Corporate News |publisher=livemint.com |date=2009-05-20 |access-date=2010-07-16}}</ref>
}}

'''Patni Computer Systems Limited''' was a provider of IT services and business solutions founded by [[Narendra Patni]]. It merged with [[IGATE]] Corporation in 2011<ref name="IG">
   "iGATE Corporation | Investor Relations",
   iGATE.com, 2011, webpage:
   [http://ir.igate.com/investors/index.cfm IGinv].
</ref> and operated under the name '''IGATE Patni''' until 2012.<ref>{{Cite news |date=2011-05-13 |title=iGate completes acquisition of Patni Computers |url=https://economictimes.indiatimes.com/tech/software/igate-completes-acquisition-of-patni-computers/articleshow/8285051.cms?from=mdr |access-date=2024-10-15 |work=The Economic Times |issn=0013-0389}}</ref> The company has employed over 18,000 people in 23 international offices across the Americas, Europe, and the Asia-Pacific region, as well as offshore development centres in eight cities in India. Patni's clients included more than 360 [[Fortune 1000]] companies.<ref>{{cite web|url=http://www.igatepatni.com/igate-patni-profile.aspx |title=About Us |publisher=Patni |date=2009-03-30 |access-date=2010-07-16}}</ref><ref>{{Cite news |date=2012-05-16 |title=Patni Computer shares to delist from NSE on May 21 |url=https://economictimes.indiatimes.com/tech/ites/patni-computer-shares-to-delist-from-nse-on-may-21/articleshow/13174040.cms?from=mdr |access-date=2024-10-15 |work=The Economic Times |issn=0013-0389}}</ref>[[File:Patni Knowledge Park Airoli.jpg|thumb|Patni Knowledge Park, [[Airoli]], [[Navi Mumbai]] (2010)|left|231x231px]]

In 2009, Patni Computer Systems appointed Jeya Kumar as the new CEO following a two-year global search.<ref>{{Cite news |date=2008-12-18 |title=Patni Computer appoints Jeya Kumar as CEO |url=https://economictimes.indiatimes.com/patni-computer-appoints-jeya-kumar-as-ceo/articleshow/3855723.cms?from=mdr |access-date=2024-10-15 |work=The Economic Times |issn=0013-0389}}</ref> After taking charge, Kumar traveled extensively and met with clients, leading the company through its "Patni 2.0" phase with a vision for the company's future.<ref>{{Cite news |date=21 May 2009 |title=Patni in transition, seeks to be among Top 5 |url=https://www.livemint.com/Companies/aExeRyuQEBbQHzi8zlKRjK/Patni-in-transition-seeks-to-be-among-Top-5.html |work=livemint.com}}</ref>



==Acquisition by iGATE Corporation==
On 10 January 2011, [[iGATE]] announced that it had reached a definitive agreement to buy shares of the major shareholders of Patni Computer Systems Limited. These shares comprise 63% of Patni's total outstanding shares.<ref name=GT-DEX-2011-CN-MP-VII>{{citation|title=IGATE CORP - FORM 8-K - April 4, 2011|url=http://getfilings.com/sec-filings/110404/IGATE-CORP_8-K/#b}}</ref>

==Acquisitions and OEM agreements==
*April 2003: Acquired "The Reference Inc.", a company incorporated in [[Massachusetts]],<ref>{{cite web |title=Cover Page.pm6 |url=http://www.sebi.gov.in/dp/patnifin.pdf |archive-url=https://web.archive.org/web/20120316113928/http://www.sebi.gov.in/dp/patnifin.pdf |archive-date=2012-03-16 |access-date=2010-07-16 |website=sebi.gov.in}}</ref> USA for a consideration of about US$7.5 million, through its wholly owned US subsidiary, Patni Computer Systems Inc. The Reference Inc. has provided Patni with specialised skills and domain expertise in the financial services industry segment.
*August 2004: Patni and InteQ Corporation announced an OEM agreement which would enable Patni to provide more extensive [[Infrastructure Management Services]] (IMS) and further tap into the expanding IMS market estimated to reach $19.5 billion by 2007.{{Citation needed|date=April 2024}}
*November 2004: Acquired "Cymbal Corporation" for a sum of {{INRConvert|300|c}} million.<ref>{{cite web |author=Subramanian |first=Shobhana |date=2005-03-23 |title=Patni's bent on catching up |url=http://www.business-standard.com/india/storypage.php?autono=208294 |access-date=2010-07-16 |work=Business Standard}}</ref> Cymbal's acquisition allowed Patni to enter the IT services market in the telecom vertical, gaining expertise and operations in the provision of services to clients in the telecommunications industry.
*June 2006: Acquired "ZAiQ Technologies", a design and verification company, in [[Woburn, Massachusetts]].<ref>{{Cite news |date=6 May 2006 |title=India's Patni buys U.S. design house ZaiQ |url=https://www.eetimes.com/indias-patni-buys-u-s-design-house-zaiq/ |work=eetimes.com}}</ref><ref>{{Cite news |date=14 February 2013 |title=Patni acquires US-based design firm |url=https://www.business-standard.com/article/technology/patni-acquires-us-based-design-firm-106060701034_1.html |work=business-standard.com}}</ref> Through the transaction, Patni obtained ZAiQ's [[Application-specific integrated circuit]] (ASIC) design capabilities and [[Intellectual Property]] (IP), as well as expertise in [[Field-programmable gate array]] (FPGA) and [[System-on-a-chip]] (SoC) technologies.<ref>{{citation |url= |title=Buy American. (Patni Computer Systems Ltd. acquires Zaiq Technologies)\ |publisher= |date=2006-07-10 |access-date=}}</ref>
*July 2007: Acquired Europe-based "Logan-Orviss International (LOI)", a leading independent specialist telecommunications consulting services company. The consideration includes an upfront cash payment on completion of the transaction as well as performance-linked incentive payments on achieving financial targets over a three-year period. LOI ended a profitable year with revenues of Euro 11.8 Million in 2006.<ref>{{cite web |url=http://www.patni.com/newsroom/press-release/2007/LOI_Telecom.pdf |title=Patni acquires Telecoms Consulting Specialist |access-date=2007-10-04 |date=2007-07-02 |publisher=Patni}}{{Dead url|date=April 2024}}</ref>
*July 2007: Acquired N.J.-based "Taratec Development Corp." through Patni Computer Systems Inc. a wholly owned subsidiary of the company, for an aggregate price of $27.2 million in cash including contingent consideration. With more than $20m in annual revenue, Taratec is a leading consulting company in the life sciences industry providing integrated business, information technology, and regulatory compliance products and services.<ref>{{cite web |url=http://www.patni.com/newsroom/press-release/2007/Taratec.pdf |title=Patni Acquires Life Sciences Services Company Taratec for $27 million |access-date=2007-10-04 |date=2007-07-23 |publisher=Patni}}{{Dead url|date=April 2024}}</ref>

==References==
{{Reflist}}

[[Category:Information technology companies of India]]
[[Category:Software companies of India]]
[[Category:Companies formerly listed on the National Stock Exchange of India]]
[[Category:Companies formerly listed on the Bombay Stock Exchange]]
[[Category:Companies formerly listed on the New York Stock Exchange]]
[[Category:Software companies based in Mumbai]]
[[Category:Software companies established in 1978]]
[[Category:Information technology consulting firms of India]]
[[Category:2011 mergers and acquisitions]]
[[Category:Indian companies established in 1978]]
[[Category:Indian companies disestablished in 2012]]
[[Category:Software companies disestablished in 2012]]